PYX Resources Ltd (LSE:PYX, NSX:PYX) has announced a share placement to a US-based institutional investor L1 Capital Global Opportunities Master Fund for up to US$13.5mln.
Initial funding will be US$4.5mln for 3mln shares (worth US$5mln) to be followed by two further investments, also US$4.5mln each, subject to a mutual agreement between the two parties.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) announced the sale of its 90% stake in the Karma mine in Burkina Faso to Néré Mining for up to US$25mln plus a 2.5% net smelter return (NSR) royalty.
“The sale of our non-core Karma mine to Néré Mining is in line with our strategy of actively managing our portfolio to focus management efforts on high margin, long-life and low all-in sustaining cost, core assets,” said Sébastien de Montessus, president and CEO of Endeavour.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said six drill rigs are operational at the Havieron gold-copper project after the Christmas shutdown.
Five drill rigs on the Western Australia-based project are testing extensions to the current mineralised system, while the other rig is drilling targets identified outside of the immediate vicinity of the Havieron deposit.
Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said assay results from 8,004 metres (m) of infill drilling within the Mestiza open pit at its La India project in Nicaragua demonstrated good continuity of gold mineralisation.
The programme is designed to convert the Inferred Mineral Resource to a higher degree of confidence Indicated category ahead of inclusion within the overall mine plan.
Analysts at Citigroup see gold hit a new record of up to US$2,125 per ounce over the coming months as financial markets grapple with surging headline inflation, geopolitical uncertainty, and recession tail risks.
Moreover, the bank’s analysts reckon the exclusion of Russians from London’s physical gold market, Swiss refining centres and the Comex bourse may tighten the availability of bullion stocks.
Kavango Resources has remodelled and refocused its efforts on two opportunities at the B1 target area at its Kalahari Suture Zone prospect in Botswana.
The B1 Target Area is located above the Great Red Spot (the "GRS"), a large-scale 5km by 8km coincident magnetic and gravity anomaly in the northern (Hukuntsi) section of the Kalahari Suture Zone..
Oriole Resources PLC (AIM:ORR) has described 2021 as a “bounce-back year” for the company.
The AIM-quoted exploration company focussed on West Africa said the year saw the completion of three phases of diamond drilling at the Bibemi project in Cameroon, which confirmed a vertical and lateral continuation of the gold anomalism previously identified on the surface, and the start of exploration at the Central Licence Package project in Cameroon, where the company has identified gold anomalism along an extensive trend (in excess of 35km).
Shanta Gold Limited (AIM:SHG, OTC:SAAGF) said the latest drilling at Ramula has underlined the potential for its West Kenya project to become a huge asset for the company.
The results strengthen "our view that the region is a major new gold district and an area of massive future growth for the company,” Shanta added.
AfriTin Mining Limited has dual-listed its shares on the NSX market of the Namibian Stock Exchange with effect from today.
The AIM-listed junior’s Uis tin mine is in Namibia and producing approximately 720 tonnes of tin concentrate per annum though the company recently reported it had also discovered traces of lithium at the site.
MetalNRG PLC (LSE:MNRG) has appointed corporate finance boutique AdviCorp PLC to source a £20mln to £40mln debt facility to be used for identified, qualified and "shovel ready" waste to energy projects in Europe.
MetalNRG has a partnership with EQTEC to develop a pre-qualified secured pipeline of waste-to-energy and waste-to-fuels projects.
Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has confirmed the presence of high-grade platinum as well as further gold and cobalt around Iron Blow Prospect of the Broken Hill Alliance (BHA) Project’s East Zone in Far West New South Wales.
Prospective for iron oxide copper-gold (IOCG) style mineralisation, the East Zone has also revealed copper, zinc and lead elements. The best platinum samples from surface sampling around Iron Blow included:
Bargain hunters have been out in force today buying up stocks with Russian connections.
Evraz PLC (LSE:EVR), up 20% today, is the big name that will catch the eye but two small-caps – Zaim Credit Systems PLC (LSE:ZAIM) and Amur Minerals Corporation (AIM:AMC, OTC:AMMCF) – have also bounced back strongly today.
Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) said investee Armada Metals Ltd (ASX:AMM) has started drilling at the Nyanga project in Gabon.
A diamond drilling programme of up to 3,000 metres will target Armada’s highest priority nickel-copper targets along the Libonga-Matchiti Trend at the project. The Phase 1 drilling programme is scheduled to take up to three months to complete.
Fresnillo PLC (LSE:FRES) posted a 3% lift in earnings for 2021 after a challenging year for the precious metals producer.
“The continued impact of the pandemic, combined with the new Mexican labour reform, have presented Fresnillo with operational challenges during the year,” said chief executive Octavio Alvídrez. “More recently, we were all devastated to report the passing of Alberto Baillères, our honorary chairman.”
Blencowe Resources PLC (LSE:BRES) is moving to complete a pre-feasibility study on its Orom-Cross graphite project in Uganda by mid-year.
The plan is to put the project into production via a pilot plant in 2023.
East Star Resources Plc (LSE:EST), a Kazakhstan-focused gold and copper explorer, said historical drill results acquired over the Eshkilitau II target on the Apmintas licence confirm the presence of a high-grade gold system.
Based on the company's analysis, Eshkilitau II will be added as a target for the 2022 drill programme.
Altech Chemicals Ltd (ASX:ATC) continues to work with London-based structuring agent Bedford Row Capital and Perth-based Bluemount Capital (WA) Ltd to finalise its green bond offering.
The US$144 million (A$196 million) listed green bond offering and additional project equity would provide the balance of funds required for the recommencement of construction of its Malaysian high purity alumina (HPA) project.
Future Metals NL (ASX:FME, AIM:FME) has returned further shallow, wide platinum group metals (PGM) results from resource definition drilling at the Panton PGM Project in northern Western Australia.
A total of 19 resource definition holes were drilled as part of a 6,000-metre diamond core drilling program with strong PGM results received from two holes including:
Bushveld Minerals Limited said it has successfully defended a legal action related to its VFRB-H arm in the High Court.
Garnet Commerce issued a writ against VRFB-H and also Enerox (EHL) alleging a breach of a joint venture agreement.
With commodity prices growing at their fastest weekly rate since the 1970s, following oil and gas in an upward trajectory, investors are asking when a ceiling might be hit for precious metals and coal.
UBS Group AG (NYSE:UBS) believes that while supply shocks will likely keep prices of metals and coal elevated over the next few months, inflationary pressures in Europe, price-induced demand destruction and increased Chinese exports meant they were not sustainable in the long term.
Galileo Resources PLC (AIM:GLR) said it has been granted an option to acquire a 51% stake in the Kamativi lithium project and the Bulawayo gold project, marking its first move into Zimbabwe.
Under an agreement, Galileo can earn an initial 51% interest in the two projects by spending US$1.5mln (£1.1mln) on exploration and evaluation by 21 January 2024 and paying US$100,000 to BC Ventures Ltd by 7 March 2022.
Ferrexpo PLC (LSE:FXPO) has announced the creation of a humanitarian fund to provide direct support for local communities surrounding the company’s operations, as well as the citizens of Ukraine.
US$1.5mln has been allocated to the fund so far, with projects being coordinated by the management team in Ukraine, according to a statement.
Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF), a metals processing company, said it will settle all historical debt by converting it into equity.
ACAM LP has elected to convert US$7.8mln (£5.9mln) of loan notes into new shares at a conversion price of 2.81 pence per share, giving it a 7.9% stake in Jubliee.
Caracal Gold PLC (LSE:GCAT), the gold producer with operations in East Africa, has appointed H.E. Ambassador Hon. Dan Kazungu, EGH as a non-executive director.
Ambassador Kazungu joins the board of Caracal after serving as the Kenya High Commissioner to Tanzania.
East Star Resources Plc (LSE:EST) said it was pleased with the data interpretation and subsequent targeting work of after 481 sq km of close-spaced drone magnetics flown over the Dalny licence in the southern part of the Chu-Ili orogenic gold belt in Kazakhstan.
The gold and copper explorer said that provided 11 target areas (see images) have been identified as prospective for gold mineralisation, along faults totalling more than 50km of strike.
Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) has received notice of the conversion of its outstanding convertible loan notes, valued at US$7.8 million and held by ACAM LP.
The ACAM convertible loan note formed a key part in the funding of the acquisition and successful recapitalisation of the Sable Refinery which launched Jubilee's Zambian copper strategy.
EN+'s director has resinged as the company said it was mulling the straegy for its Russian aluminium company Rusal.
Greg Baker resigned following heavy pressure from fellow members of the House of Lords, who criticised his involvement with the Russian-linked group, with some senior MPs calling for him to lose his peerage.